- Diane S Designs Has Two Classes Of Stock Authorized 8 10 Par Value Preferred And 1 Par Value Common The Following 1 (84.81 KiB) Viewed 28 times
Diane's Designs has two classes of stock authorized: 8%, $10 par value preferred and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 1 Issue 200,000 shares of common stock for $15 per share. February 6 Issue 900 shares of preferred stock for $12 per share. October 10 Purchase 11,000 shares of its own common stock for $15 per share. November 12 Resell 4,000 shares of treasury stock at $21 per share. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 > Record the issuance of 200,000 shares of common stock for $15 per share. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01, 2021